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W.K. Kellogg Foundation Chief Investment Officer Retires; New Chief Named

BATTLE CREEK, Mich. – Paul Lawler, vice president and chief investment officer at the W.K. Kellogg Foundation, will retire this month after 12 years of service to the organization. Joel Wittenberg, corporate vice president for treasury and investor relations at the Kellogg Company, will join the foundation as vice president and chief investment officer, effective Sept. 14, 2009.”We will miss Paul’s steady hand and outstanding expertise in managing the diversified portfolios of the Kellogg Foundation and Trust,” said Sterling Speirn, the foundation’s president and chief executive officer. “Under his leadership, both short-term and long-term performance of the trust and the foundation exceeded their respective benchmarks, even in the face of recent economic challenges. This has allowed us to maintain a high level of support for efforts to help families and communities create conditions that propel vulnerable children to success. We’re looking forward to Joel’s expertise as we bring additional focus to our strategic direction and work in service to our mission.” Wittenberg will bring more than 20 years of financial and investment market experience with him when he joins the Kellogg Foundation next month. “Joel’s solid background and success in the corporate world is just what we need to continue the high financial management standards,” Speirn said. “He will help us preserve and grow our financial resources, while simultaneously looking for innovative investments that help us realize greater social change by leveraging our endowment to serve the public good.”In addition to his current role at the Kellogg Company, Wittenberg has served as corporate vice president and treasurer, and assistant treasurer for the breakfast cereal manufacturer. Prior to joining the Kellogg Company, he was vice president and treasurer with Armstrong World Industries in Lancaster, Penn., and he held several key treasury roles with the Dow Chemical Company of Midland, Mich. Wittenberg earned his bachelor of science degree in accounting and finance at Michigan State University’s Eli Broad Graduate School of Management and his master of business administration degree from the University of Michigan’s Stephen M. Ross School of Business.Lawler joined the Kellogg Foundation in June 1997 as vice president for finance and treasurer. He has been responsible for providing operational and administrative leadership for investments, external relations for the treasury, and cash management and risk management services. He also has carefully monitored the operations of the Kellogg Trust. He has maintained and enhanced the foundation’s relationship with Kellogg Company, investment advisors, the Bank of New York and others. During his time in Battle Creek, Lawler contributed to the community in a variety of ways. He served on the boards of Junior Achievement, United Way and the Battle Creek Community Foundation. In addition, he currently serves as a trustee of the First Eagle Family of Mutual Funds, as well as on the advisory committees of the Bank of New York Mellon, the Council of Michigan Foundations and the Common Fund Capital. Prior to joining the foundation, Lawler was vice president at Rensselaer Polytechnic Institute in Troy, N.Y. Earlier, he held executive management positions at Columbia University and J.P. Morgan & Company. He earned his bachelor’s degree in architecture and political science at Yale University in New Haven, where he became a member of the Aurelian Honor Society. He also is a certified financial analyst. Established in 1930, the W.K. Kellogg Foundation supports children, families and communities as they strengthen and create conditions that propel vulnerable children to achieve success as individuals and as contributors to the larger community and society. Grants are concentrated in the United States, Latin American and the Caribbean, and southern Africa.

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